STICKER
CENTRE NUMBER
EXAMINATION NUMBER
NATIONAL SENIOR CERTIFICATE
ACCOUNTING P2
GRADE 12
NOVEMBER 2023
SPECIAL ANSWER BOOK
QUESTION
MARKS
INITIAL
MOD.
1
2
3
4
TOTAL
This answer book consists of 11 pages.
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Accounting/P2
2
NSC – Answer Book
DBE/November 2023
QUESTION 1
1.1
BANK RECONCILIATION
1.1.1
TOTAL RECEIPTS
81 300
TOTAL PAYMENTS
80 620
12
Bank balance in the General Ledger on 30 June 2023
WORKINGS
ANSWER
4
1.1.2
Choose only ONE template below to answer this question.
TWO-COLUMN METHOD
BANK RECONCILIATION STATEMENT ON 30 JUNE 2023
DEBIT
CREDIT
8
OR
ONE-COLUMN METHOD
BANK RECONCILIATION STATEMENT ON 30 JUNE 2023
8
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1.1.3
3
NSC – Answer Book
DBE/November 2023
Explain TWO strategies that the business can use to address the
problem of missing cash.
4
1.2.1
CREDITORS' RECONCILIATION
NO.
CREDITORS'
CONTROL
CREDITORS'
LIST
Provisional
balances
175 940
186 350
(i)
(ii)
(iii)
(iv)
(v)
9
1.2.2
SEB Traders intend settling the account of Phuto Wholesalers on
31 August 2023. Calculate the amount due to them.
WORKINGS
ANSWER
64 950
3
TOTAL MARKS
40
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DBE/November 2023
QUESTION 2
2.1
T2FIT MANUFACTURERS
2.1.1
Calculate direct material cost.
WORKINGS
ANSWER
4
2.1.2
Calculate factory overhead costs for the year.
Incorrect total
600 000
Correct total for factory overhead costs
2.1.3
7
PRODUCTION COST STATEMENT FOR YEAR ENDED 28 FEBRUARY 2023
Direct labour costs
408 600
Total cost of production
Cost of production of finished goods
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2.1.4
5
NSC – Answer Book
Calculate the cost of the wastage of raw materials.
WORKINGS
DBE/November 2023
ANSWER
4
2.1.5
Mark is concerned about the increase in the cost of raw materials over
the financial year. Provide TWO strategies that Mark can use to
address the problem of wastage.
2
2.2
LIGHTING KINGS (PTY) LTD
2.2.1
Do a calculation to confirm that the 2023 break-even point of
149 145 units for Orion bulbs is correct.
3
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2.2.2
6
NSC – Answer Book
DBE/November 2023
Identify and explain TWO cost items (with figures) that may have
contributed to the increase in the cost of production per unit. Provide
a reason in each case. Note that the current inflation rate is 7%.
COST (with figures)
REASON FOR CHANGE
Point 1
Point 2
6
2.2.3
Explain whether the new Starlet bulbs were a good idea or not.
Provide TWO points. Quote figures.
4
TOTAL MARKS
35
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DBE/November 2023
QUESTION 3
3.1
Identify TWO items that were incorrectly recorded in the Cash Budget.
2
Identify TWO items in the Cash Budget that would NOT appear in a
Projected Statement of Comprehensive Income.
2
3.2
DEBTORS' COLLECTION SCHEDULE
MONTHS
CREDIT SALES
NOVEMBER
SEPTEMBER
535 500
42 840
OCTOBER
640 500
320 250
NOVEMBER
651 000
247 380
DECEMBER
682 500
CASH FROM DEBTORS
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610 470
DECEMBER
8
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3.3
8
NSC – Answer Book
DBE/November 2023
Calculate:
(i)
Discount allowed in November 2023
WORKINGS
ANSWER
3
(ii)
Interest on savings account in December 2023
WORKINGS
ANSWER
4
(iii)
Payments to creditors in December 2023
WORKINGS
ANSWER
3
(iv)
Rent expense for November 2023
WORKINGS
ANSWER
2
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3.4.1
9
NSC – Answer Book
DBE/November 2023
Explain the changes that Adam made.
2
Explain why some of the salespeople regretted their decision to agree
to these changes. Quote figures or show calculations.
3
Adam feels that the decision has benefitted the company, while the
sales manager, Milly, is concerned that it did not benefit the company.
Provide ONE point (with figures or calculations) to support EACH of
these opinions.
ADAM
MILLY
4
3.4.2
Calculate the net effect of the purchase of the property on the receipts
and payments in the Cash Budget.
WORKINGS
ANSWER
5
Give ONE reason why Adam has decided to go ahead with this
purchase.
2
TOTAL MARKS
40
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DBE/November 2023
QUESTION 4
4.1
4.1.1
4.1.2
4.1.3
3
4.2.1 Calculate the value of the closing stock on 28 February 2023. Use
the specific identification method.
WORKINGS
ANSWER
6
4.2.2 Calculate how long (in days) it will take to sell the closing stock of
the Hawi printers.
WORKINGS
ANSWER
4
4.2.3 Explain whether Sipho should be concerned about the stockholding
periods of the Hawi and Yama printers. Quote figures. Give possible
reasons for the difference in the holding periods of the two models.
6
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4.3.1 Calculate the cost price of vehicles on 1 March 2022.
WORKINGS
DBE/November 2023
ANSWER
3
Calculate the trade-in value received on the vehicle disposed of on
1 June 2022.
WORKINGS
ANSWER
5
4.3.2 Explain to the bookkeeper why his method is incorrect:
Provide a calculation to support your explanation:
4
4.3.3 Explain TWO possible points that the CEO can use to support his
decision.
4
TOTAL MARKS
35
TOTAL:
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